Personal Insolvency: Law and Practice Book

This text is a new edition of "Bankruptcy - Law and Practice". In deference to the role now played by individual voluntary arrangements, which is an area of law examined in Chapter 3, the title of this new edition has been changed to "Personal Insolvency - Law and Practice". The aim of this work is to provide a detailed guide to the law and procedure of individual voluntary arrangements and bankruptcy under the Insolvency Act and Rules 1986. The previous edition's section on the law under the Bankruptcy Act 1914 is replaced by a short summary of the old law, designed to help those who are not familiar with it understand the legal structure underlying pre-1987 reported decisions. As this book is published, there are two important changes on the horizon. First, it is proposed that the law and procedure relating to insolvent partnerships be amended in a number of significant respects. The DTI hopes to have an Insolvent Partnership Order 1993 in force by the end of the year. The expected changes are noted in Chapter 16. Secondly, the county court Administration Order should be given a new lease of life when the provisions of the Courts and Legal Services Act 1990 are eventually implemented. The Administration Order may become a popular alternative to an individual voluntary arrangement. These new statutory provisions are detailed in Chapter 30, but their implementation will necessitate substantial amendment to the County Court Rules, and of these amendments there is, at present, no sign. There are many references in the paragraph notes to the Insolvency Act 1986 and the Insolvency Rules 1986, the latter as amended in 1987. The law is stated as at December 1992.Read More